Selectis Health (GBCS) 10-Q 15 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 10, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	0-15415
Entity Registrant Name	Selectis Health, Inc.
Entity Central Index Key	0000727346
Entity Tax Identification Number	87-0340206
Entity Incorporation, State or Country Code	UT
Entity Address, Address Line One	8480 E Orchard Rd
Entity Address, Address Line Two	Ste 4900
Entity Address, City or Town	Greenwood Village
Entity Address, State or Province	CO
Entity Address, Postal Zip Code	80111
City Area Code	(720)
Local Phone Number	680-0808
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		3,067,059

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Current Assets
Cash	$ 1,265,613	$ 1,484,599
Accounts Receivable, Net	1,825,507	2,091,536
Prepaid Expenses and Other Current Assets	1,110,776	1,380,570
Total Current Assets	4,201,896	4,956,705
Long Term Assets:
Restricted Cash	767,226	820,124
Property and Equipment, Net	33,510,748	33,817,718
Goodwill	1,076,908	1,076,908
Total Assets	39,556,778	40,671,455
Liabilities:
Accounts Payable and Accrued Liabilities	6,284,271	6,045,365
Dividends Payable	38,100	30,600
Current Maturities of Long-Term Debt, Net of Discount of $467,609 and $524,704, respectively	10,926,610	11,170,100
Total Current Liabilities	18,148,981	18,146,065
Debt, Net of Discount of $7,871 and $30,663, respectively	25,095,062	25,176,435
Lease Security Deposit	318,750	312,750
Total Liabilities	43,562,793	43,635,250
Commitments and Contingencies
Equity:
Common Stock - $0.05 Par Value; 800,000,000 Shares Authorized, 3,067,059 and 3,067,059 Shares Issued and Outstanding at March 31, 2024 and December 31, 2023, respectively	153,352	153,352
Additional Paid-In Capital	13,852,028	13,852,028
Accumulated Deficit	(18,787,395)	(17,745,175)
Total Selectis Health, Inc. Stockholders’ Equity	(4,006,015)	(2,963,795)
Total Liabilities and Equity	39,556,778	40,671,455
Series A Preferred Stock [Member]
Equity:
Preferred stock value	401,000	401,000
Series D Preferred Stock [Member]
Equity:
Preferred stock value	375,000	375,000
Related Party [Member]
Liabilities:
Short-Term Debt,  Related Parties	$ 900,000	$ 900,000

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Long term debt, net of discount, current	$ 467,609	$ 524,704
Long term debt, net of discount, non current	$ 7,871	$ 30,663
Preferred stock, shares authorized	10,000,000
Common stock, par value	$ 0.05	$ 0.05
Common stock, shares authorized	800,000,000	800,000,000
Common stock, shares issued	3,067,059	3,067,059
Common stock, shares outstanding	3,067,059	3,067,059
Series A Preferred Stock [Member]
Dividend, preferred stock	$ 0	$ 0
Preferred stock, par value	$ 2	$ 2
Preferred stock, shares authorized	2,000,000	2,000,000
Preferred stock, shares issued	200,500	200,500
Preferred stock, shares outstanding	200,500	200,500
Series D Preferred Stock [Member]
Preferred stock, par value	$ 1	$ 1
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	375,000	375,000
Preferred stock, shares outstanding	375,000	375,000
Preferred stock, dividend rate, percentage	8%	8%

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue
Total Revenue	$ 9,492,406	$ 9,605,671
Expenses
Property Taxes, Insurance and Other Operating	7,501,209	8,509,271
General and Administrative	2,163,348	2,204,846
Provision for Bad Debts	100,514	423,180
Depreciation	423,599	438,730
Total Expenses	10,188,670	11,576,027
(Loss) Income from Operations	(696,264)	(1,970,356)
Other Expense
Interest Expense, net	630,330	518,299
Income from Employee Retention Credits		(6,350,533)
Other Income	(291,874)	(163,298)
Total Other (Income) Expense	338,456	(5,995,532)
Net (Loss) Income	(1,034,720)	4,025,176
Series D Preferred Dividends	(7,500)	(7,500)
Net (Loss) Income Attributable to Common Stockholders	$ (1,042,220)	$ 4,017,676
Net (Loss) Income per Share Attributable to Common Stockholders:
Basic	$ (0.34)	$ 1.32
Diluted	$ (0.34)	$ 1.32
Weighted Average Common Shares Outstanding:
Basic	3,067,059	3,054,587
Diluted	3,067,059	3,054,587
Rental [Member]
Revenue
Total Revenue	$ 160,326	$ 157,789
Health Care [Member]
Revenue
Total Revenue	9,332,080	8,627,949
Healthcare Grant Revenue [Member]
Revenue
Total Revenue		$ 819,933

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)	Preferred Stock [Member] Series A Preferred Stock [Member]	Preferred Stock [Member] Series D Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2022	$ 401,000	$ 375,000	$ 152,728	$ 13,768,300	$ (13,744,193)	$ 952,835
Balance, shares at Dec. 31, 2022	200,500	375,000	3,054,587
Series D Preferred Dividends					(7,500)	(7,500)
Net Income Loss					4,025,176	4,025,176
Balance at Mar. 31, 2023	$ 401,000	$ 375,000	$ 152,728	13,768,300	(9,726,517)	4,970,511
Balance, shares at Mar. 31, 2023	200,500	375,000	3,054,587
Balance at Dec. 31, 2023	$ 401,000	$ 375,000	$ 153,352	13,852,028	(17,745,175)	(2,963,795)
Balance, shares at Dec. 31, 2023	200,500	375,000	3,067,059
Series D Preferred Dividends					(7,500)	(7,500)
Net Income Loss					(1,034,720)	(1,034,720)
Balance at Mar. 31, 2024	$ 401,000	$ 375,000	$ 153,352	$ 13,852,028	$ (18,787,395)	$ (4,006,015)
Balance, shares at Mar. 31, 2024	200,500	375,000	3,067,059

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows From Operating Activities:
Net Income	$ (1,034,720)	$ 4,025,176
Adjustments to Reconcile Net Income to Net Cash Used in Operating Activities:
Other Income from Adjustment of Debt		(50,000)
Depreciation and Amortization	423,599	438,730
Amortization of Deferred Loan Costs and Debt Discount	79,887	94,398
Provision for Bad Debt	100,514	423,180
Changes in Operating Assets and Liabilities, Net of Assets and Liabilities Acquired:
Accounts and Rents Receivable	165,515	(369,977)
Prepaid Expenses and Other Assets	269,794	135,801
Employee Retention Credit Receivables		(6,350,533)
Accounts Payable and Accrued Liabilities	238,906	1,584,730
Lease Security Deposits	6,000	1,500
Cash Provided by (Used) in Operating Activities	249,495	(66,995)
Cash Flows From Investing Activities:
Capital Expenditures for Property and Equipment	(116,629)	(42,515)
Cash Used in Investing Activities	(116,629)	(42,515)
Cash Flows From Financing Activities:
Proceeds from Issuance of Debt, Non-Related Party		501,006
Payments on Debt, Non-Related Party	(404,750)	(601,453)
Dividends Paid on Preferred Stock		(6,900)
Cash Used in Financing Activities	(404,750)	(107,347)
Net Decrease in Cash, Cash Equivalents and Restricted Cash	(271,884)	(216,857)
Cash and Cash Equivalents and Restricted Cash at Beginning of the Period	2,304,723	2,416,600
Cash and Cash Equivalents and Restricted Cash at End of the Period	2,032,839	2,199,743
Supplemental Disclosure of Cash Flow Information
Cash Paid for Interest	694,342	423,900
Cash and Cash Equivalents	1,265,613	1,157,413
Restricted Cash	767,226	1,042,330
Total Cash and Cash Equivalents and Restricted Cash	2,032,839	2,199,743
Supplemental Schedule of Non-Cash Investing and Financing Activities
Dividends Declared on Series D Preferred Stock	7,500	7,500
Financing of Insurance Premiums	$ 122,888	$ 673,930

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Description of the Business Selectis Health, Inc (“Selectis” or “we” or the “Company”) owns and operates, through wholly-owned subsidiaries Assisted Living Facilities, Independent Living Facilities, and Skilled Nursing Facilities across the South and Southeastern portions of the US. In 2019, the Company shifted from leasing long-term care facilities to third-party, independent operators towards an owner operator model. Prior to the Company changing its name to Selectis Health, Inc., the Company was known as Global Healthcare REIT, Inc. from September 30, 2013, to May 2021. Prior to this, the Company was known as Global Casinos, Inc. Global Casinos, Inc. operated two gaming casinos which were split-off and sold on September 30, 2013. Simultaneous with the split-off and sale of the gaming operations, the Company acquired West Paces Ferry Healthcare REIT, Inc. (“WPF”). WPF was merged into the Company in 2019. In September 2021, the Company rebranded to Selectis Health, Inc., from Global Healthcare REIT, Inc. to better align with the current and future business model, which is to own and operate its facilities. The Company acquires, develops, leases and manages healthcare real estate, provide financing to healthcare providers, and provide healthcare operations through our wholly-owned subsidiaries. Our portfolio is comprised of investments in the following three healthcare segments: (i) senior housing (including independent and assisted living), (ii) post-acute/skilled nursing, and (iii) bonds securing senior housing communities. We will make investments within our healthcare segments using the following six investment products: (i) direct ownership of properties, (ii) debt investments, (iii) developments and redevelopments, (iv) investment management, (v) the Housing and Economic Recovery Act of 2008 (“RIDEA”), which represents investments in senior housing operations utilizing the structure permitted by RIDEA and (xi) owning healthcare operations. Management’s Liquidity Plans and Going Concern On August 27, 2014, FASB issued ASU 2014-05, Disclosure of Uncertainties about an Entity’s ability to Continue as a Going Concern, which requires management to assess a company’s ability to continue as a going concern within one year from financial statement issuance and to provide related footnote disclosures in certain circumstances. In accordance with ASU 2014-05, management’s analysis can only include the potential mitigating impact of management’s plans that have not been fully implemented as of the issuance date if (a) it is probable that management’s plans will be effectively implemented on a timely basis, and (b) it is probable that the plans, when implemented, will alleviate the relevant conditions or events that raise substantial doubt about the Company’s ability to continue as a going concern. The accompanying unaudited Condensed Consolidated Financial Statements are prepared in accordance with U.S. GAAP applicable to a going concern. This presentation contemplates the realization of assets and the satisfaction of liabilities in the normal course of business and does not include any adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might result from the outcome of the uncertainties described below. For the three months ended March 31, 2024, the Company had operating cash flows of $ 249,495 13.9 ● Increasing revenue by increasing occupancy in the facilities and increasing Medicaid reimbursement rates; ● Controlling operating expenses; and ● Seeking additional capital through the issuance of debt or equity securities, or the sale of assets. The focus on opportunities within our current portfolio and future properties to acquire and operate, the settlement, refinance, and continued service of debt obligations, the potential funds generated from stock sales and other initiatives contributing to additional working capital should alleviate any substantial doubt about the Company’s ability to continue as a going concern as defined by ASU 2014-05. However, we cannot predict, with certainty, the outcome of our actions to generate liquidity and the failure to do so could negatively impact our future operations.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for interim financial information and in conjunction with the rules and regulations of the Securities Exchange Commission. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary to make the consolidated financial statements not misleading have been included. Operating results for the three months ended March 31, 2023, are not necessarily indicative of the results that may be expected for the entire year. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Recently Issued Accounting Pronouncements The FASB and other entities issued new or modifications to, or interpretations of, existing accounting guidance during 2023. Management has carefully considered the new pronouncements that altered generally accepted accounting principles and does not believe that any other new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term. Earnings per Share Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. FASB ASC Topic 260, “Earnings per Share”, requires the Company to include additional shares in the computation of earnings per share, assuming dilution. Diluted earnings per share are based on the assumption that all dilutive options and warrants were converted or exercised by applying the treasury stock method and that all convertible preferred stock were converted into common shares by applying the if-converted method. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period or at the time of issuance, if later, and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, the preferred dividends applicable to convertible preferred stock are added back to the numerator. The convertible preferred stock is assumed to have been converted at the beginning of the period or at time of issuance, if later, and the resulting common shares are included in the denominator. We calculate basic earnings per share by dividing net income attributable to common stockholders (the “numerator”) by the weighted average number of common shares outstanding (the “denominator”) during the reporting period. Diluted earnings per share is calculated similarly but reflects the potential impact of outstanding options, warrants and other commitments to issue common stock, including shares issuable upon the conversion of convertible preferred stock outstanding, except where the impact would be anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share: SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE 2024 2023 Three Months Ended March 31, 2024 2023 Numerator for basic earnings per share: Net Loss Attributable to Selectis Health, Inc. $ (1,034,720 ) $ 4,025,176 Series D Preferred Dividends (7,500 ) (7,500 ) Net Income (Loss) Attributable to Common Stockholders – Basic $ (1,042,220 ) $ 4,017,676 Numerator for diluted earnings per share: Net Income (Loss) Attributable to Common Stockholders $ (1,034,720 ) $ 4,025,176 Series D Preferred Dividends (7,500 ) (7,500 ) Net Income (Loss) Attributable to Common Stockholders – Diluted $ (1,042,220 ) $ 4,017,676 Denominator for basic earnings per share: Weighted Average Common Shares Outstanding 3,067,059 3,054,587 Denominator for diluted earnings per share: Weighted Average Common Shares Outstanding - Basic 3,067,059 3,054,587 Weighted Average Common Shares Outstanding - Diluted 3,067,059 3,054,587 Net Income (Loss) per Share Attributable to Common Stockholders: Basic $ (0.34 ) $ 1.32 Diluted $ (0.34 ) $ 1.32 Fair Value Measurements The Company utilizes the methods of fair value measurement as described in ASC 820 to value its financial assets and liabilities. As defined in ASC 820, fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below: Level 1 – Quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2 – Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data. Level 3 – Inputs reflecting management’s best estimates and assumptions of what market participants would use in pricing assets or liabilities at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company has no financial assets or financial liabilities that are required to be measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023. The carrying values of cash and cash equivalents, accounts payable, accrued liabilities and other short-term debt, approximate their fair value because of the short-term nature of these financial instruments. The carrying value of long-term debt approximates fair value since the related rates of interest approximate current market rates. Upon acquisition of real estate properties, the Company determines the total purchase price of each property and allocates this price based on the fair value of the tangible assets and intangible assets, if any, acquired and any liabilities assumed based on Level 3 inputs. These Level 3 inputs can include comparable sales values, discount rates, and capitalization rates from a third-party appraisal or other market sources.

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT, NET	3. PROPERTY AND EQUIPMENT, NET The gross carrying amount and accumulated depreciation of the Company’s property and equipment as of March 31, 2024, and December 31, 2023, are as follows: SCHEDULE OF PROPERTY PLANT AND EQUIPMENT March 31, 2024 December 31, 2023 Land $ 1,778,250 $ 1,778,250 Land Improvements 496,597 329,055 Buildings and Improvements 44,498,114 44,665,656 Furniture, Fixtures and Equipment 2,599,835 2,483,207 Property and Equipment, gross 49,372,796 49,256,168 Less: Accumulated Depreciation (14,302,048 ) (13,878,450 ) Less: Impairment (1,560,000 ) (1,560,000 ) Property and Equipment, net $ 33,510,748 $ 33,817,718 For the Three Months Ended March 31, 2024 2023 Depreciation Expense (excluding Intangible Assets) $ 423,599 $ 438,730

DEBT AND DEBT - RELATED PARTIES

DEBT AND DEBT - RELATED PARTIES	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
DEBT AND DEBT - RELATED PARTIES	4. DEBT AND DEBT - RELATED PARTIES The following is a summary of the Company’s debt outstanding as of March 31, 2024, and December 31 2023: SCHEDULE OF DEBT AND DEBT - RELATED PARTIES March 31, 2024 December 31, 2023 Senior Secured Promissory Notes $ 1,025,000 $ 1,025,000 Senior Secured Promissory Notes - Related Parties 750,000 750,000 Fixed-Rate Mortgage Loans 29,328,787 29,570,185 Variable-Rate Mortgage Loans 4,637,955 4,675,585 Other Debt, Subordinated Secured 741,000 741,000 Other Debt, Subordinated Secured - Related Parties 150,000 150,000 Other Debt, Subordinated Secured - Seller Financing 7,957 15,105 Financed Insurance Premiums 756,453 875,027 Debt and Debt – Related Parties, Gross 37,397,152 37,801,902 Unamortized Discount and Debt Issuance Costs (475,480 ) (555,367 ) Debt and Debt – Related Parties, Net of Discount $ 36,921,672 $ 37,246,535 As presented in the Consolidated Balance Sheets: Current Maturities of Long-Term Debt, Net $ 10,926,610 $ 11,170,100 Short term debt – Related Parties, Net 900,000 900,000 Long-Term Debt, Net 25,095,062 25,176,435 The weighted average interest rate and term of our debt are 3.84 12.79 4.15 14.12 Corporate Senior and Senior Secured Promissory Notes As of March 31, 2024, and December 31, 2023, the senior secured notes are subject to annual interest ranging from 10 11 October 31, 2021 1.67 844,425 In 2017, $ 600,000 425,000 1.2 For every $10.00 in principal amount of note, investors got one warrant exercisable for one year to purchase an additional share of common stock at an exercise price of $ 7.50 120,000 225,000 125,000 10 December 31, 2018 100,000 10 December 31, 2018 11 10,000 5.00 October 31, 2021 25,000 10 December 31, 2018 In October 2017, the Company sold an aggregate of $ 300,000 10 October 2020 For every $10.00 in principal amount of note, investors got one warrant exercisable for one year to purchase an additional share of common stock at an exercise price of $ 7.50 150,000 10 150,000 10 October 31, 2020 11 15,000 5.00 October 31, 2021 In October 2018, the Company, through a registered broker-dealer acting as Placement Agent, undertook a private offering to accredited investors of Units, each Unit consisting of an 11 due in three years one Warrant for each $10.00 in principal amount of Note exercisable for three years to purchase a share of Common Stock at an exercise price of $ 5.00 1,160,000 1,092,400 67,600 11,100 21,453 1.075 10 1.075 October 31, 2021 875,000 On January 17, 2020, the Board of Directors agreed to increase the total offering amount and extend the period of its 2018 Offering of 11 2,500,000 60,000 100,000 100,000 6,000 10,000 0.50 October 31, 2021 150,000 15,000 5.00 October 31, 2021 Effective June 27, 2023, pursuant to an Allonge and Modification Agreement a Majority in Interest of the senior secured note holders agreed to extend the maturity date of the notes to December 31, 2024 11 10 177,500 5 December 31, 2024 84,352 On March 29, 2023, the Company entered into a short-term subordinated secured promissory note of $ 501,006 6.75 July 5, 2023 September 5, 2023 7.5 Mortgage Loans and Lines of Credit Secured by Real Estate Mortgage loans and other debts such as line of credit here are collateralized by all assets of each nursing home property and an assignment of its rents. Collateral for certain mortgage loans includes the personal guarantee of Christopher Brogdon, formerly but no longer a related party, or corporate guarantees. Mortgage loans for the periods presented consisted of the following: SCHEDULE OF MORTGAGE LOAN DEBT Number of Total Face Total Principal Outstanding as of State Properties Amount March 31, 2024 December 31, 2023 Arkansas (1) 1 $ 5,000,000 $ 3,709,826 $ 3,739,786 Georgia (2) 5 $ 17,765,992 $ 15,325,521 $ 15,457,026 Ohio 1 $ 3,000,000 $ 2,543,200 $ 2,563,000 Oklahoma (3) 6 $ 13,181,325 $ 12,388,196 $ 12,485,958 13 $ 38,947,317 $ 33,966,743 $ 34,245,770 (1) The mortgage loan collateralized by this property is 80 0.25 14,350 170,981 (2) The Company refinanced two of its mortgages that would have matured in June and October of 2021 amounting to $ 2,961,167 3,289,595 (3) The Company refinanced all three mortgages in July 2021, that would have matured in June and July of 2021 amounting to $ 2,065,969 750,000 500,000 June 2027 35 2.38 Subordinated, Corporate and Other Debt Other debt due at March 31, 2024 and December 31, 2023 includes unsecured notes payable issued to entities controlled by the Company used to facilitate the acquisition of the nursing home properties. SCHEDULE OF OTHER DEBT Total Principal Property Face Amount March 31, 2024 December 31, 2023 Stated Interest Rate Maturity Date Goodwill Nursing Home $ 2,030,000 $ 741,000 $ 741,000 13% Fixed 30-Nov-25 Goodwill Nursing Home – Related Party 150,000 150,000 150,000 13% Fixed 30-Nov-25 Higher Call Nursing Center (1) 150,000 7,957 15,105 8% Fixed 30-Nov-25 $ 2,330,000 $ 898,957 $ 906,105 (1) In connection with the acquisition of Higher Call, the Company executed a promissory note in favor of the Seller, Higher Call Nursing Center, Inc., in the principal amount of $ 150,000 The Company’s corporate debt as of March 31, 2024, and December 31, 2023 includes unsecured notes and notes secured by all assets of the Company not serving as collateral for other notes. SCHEDULE OF UNSECURED NOTES AND NOTES SECURED BY ALL ASSETS Total Principal Series Face Amount March 31, 2024 December 31, 2023 Stated Interest Rate Maturity Date 11% Senior Secured Promissory Notes $ 1,255,000 $ 1,025,000 $ 1,025,000 10% Fixed 31-Dec-24 11% Senior Secured Promissory Notes – Related Party $ 750,000 750,000 750,000 10% Fixed 31-Dec-24 $ 2,005,000 $ 1,775,000 $ 1,775,000

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
STOCKHOLDERS’ EQUITY	5. STOCKHOLDERS’ EQUITY Preferred Stock The Company has authorized 10,000,000 Series A Convertible Redeemable Preferred Stock The Company’s Board of Directors has authorized 2,000,000 2.00 2.00 As of March 31, 2024, and December 31, 2023, the Company has 200,500 Series D Convertible Preferred Stock The Company has established a class of preferred stock designated “Series D Convertible Preferred Stock” (Series D preferred stock) and authorized an aggregate of 1,000,000 1.00 8 Shares of the Series D preferred stock are redeemable at the Company’s option. At the option of the holder, shares of the Series D preferred stock plus any declared and unpaid dividends are convertible to shares of the Company’s common stock at a conversion rate of $ 1.00 As of March 31, 2024 and December 31, 2023, the Company had 375,000 For the three months ended March 31, 2024, and 2023, the Company declared $ 7,500 7,500 Common Stock The Company’s Board of Directors has authorized 50,000,000 0.05 3,067,059 Common Stock Warrants As of March 31, 2024, and December 31, 2023, the Company had 177,500 5.00 0.75 1.0 0 SCHEDULE OF COMMON STOCK WARRANTS ACTIVITY March 31, 2024 Number of Weighted Average Warrants Exercise Price Beginning Balance 177,500 $ 5.00 Exercised - - Expired - - Ending Balance 177,500 $ 5.00

FACILITY LEASES

FACILITY LEASES	3 Months Ended
	Mar. 31, 2024
Facility Leases
FACILITY LEASES	6. FACILITY LEASES The following table summarizes leasing arrangements related to the Company’s healthcare facilities at March 31, 2024: SCHEDULE OF LEASING ARRANGEMENTS Monthly Lease Facility Income (1) Lease Expiration Renewal Option if any Goodwill Hunting LLC (1) $ 53,675 February 1, 2027 Term may be extended for one additional five-year term (1) The lease became effective on February 1, 2017, and the facility began generating rental revenue thereafter. Lessees are responsible for payment of insurance, taxes, and other charges while under the lease. Should the lessees not pay all such charges as required under the leases, or if there is no tenant, the Company may become liable for such operating expenses. We have been required to cover those expenses at Glen Eagle as well as the Southern Hills SNF, ALF and ILF, Meadowview, Higher Call, Edwards, Fairland, Sparta, and Warrenton properties.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	7. COMMITMENTS AND CONTINGENCIES General and Professional Liability Insurance and Lawsuits The senior care industry has experienced significant increases in both the number of personal injury/wrongful death claims and in the severity of awards based upon alleged negligence by skilled nursing facilities and their employees in providing care to residents. The Company has been, and continues to be, subject to claims and legal actions that arise in the ordinary course of business, including potential claims related to patient care and treatment. The defense of these lawsuits may There is certain additional litigation incidental to our business, none of which, based upon information available to date, would be material to our financial position, results of operations, or cash flows. In addition, the long–term care industry is continuously subject to scrutiny by governmental regulators, which could result in litigation or claims related to regulatory compliance matters. Governmental Regulations Laws and regulations governing the Medicare, Medicaid and other federal healthcare programs are complex and subject to interpretation. Management believes that it is following all applicable laws and regulations in all material respects. However, compliance with such laws and regulations can be subject to future government review and interpretation as well as significant regulatory action including fines, penalties, and exclusions from the Medicare, Medicaid and other federal healthcare programs.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	8. SUBSEQUENT EVENTS On April 12, 2024, the Company entered into a Commercial Line of Credit Agreement and Note with Southern Bank for a line of credit in the principal amount limit of $ 750,000 8.50 April 12, 2025 On May 1, 2024, the Company caused its wholly-owned subsidiary Goodwill Hunting, LLC, a Georgia limited liability company (“Seller”) to execute and deliver a definitive Purchase and Sale Agreement (“PSA”) with Bibb County Holdings II, LLC, a Georgia limited liability company (“Purchaser”); pursuant to which the Seller agreed to sell certain real property located in Macon, Bibb County, Georgia identified as Bibb County Tax Parcels P1030040, P1030254, P1030253, P1030043, P1030052, and P1030252 including that certain skilled nursing facility known as “Archway Transitional Care Center” located at 4373 Houston Avenue, Macon, Bibb County, 31206 (the “Archway Property”). The purchase price to be paid by Purchaser for the Archway Property is Six Million Seven Hundred Fifty Thousand Dollars ($ 6,750,000 Consummation of the PSA is contingent upon satisfactory completion of certain conditions customary in transactions of this nature. There can be no assurance that the PSA will be consummated.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim condensed financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for interim financial information and in conjunction with the rules and regulations of the Securities Exchange Commission. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments considered necessary to make the consolidated financial statements not misleading have been included. Operating results for the three months ended March 31, 2023, are not necessarily indicative of the results that may be expected for the entire year. The unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission.
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements The FASB and other entities issued new or modifications to, or interpretations of, existing accounting guidance during 2023. Management has carefully considered the new pronouncements that altered generally accepted accounting principles and does not believe that any other new or modified principles will have a material impact on the Company’s reported financial position or operations in the near term.
Earnings per Share	Earnings per Share Basic earnings per share are based on the weighted-average number of shares of common stock outstanding. FASB ASC Topic 260, “Earnings per Share”, requires the Company to include additional shares in the computation of earnings per share, assuming dilution. Diluted earnings per share are based on the assumption that all dilutive options and warrants were converted or exercised by applying the treasury stock method and that all convertible preferred stock were converted into common shares by applying the if-converted method. Under the treasury stock method, options and warrants are assumed to be exercised at the beginning of the period or at the time of issuance, if later, and as if funds obtained thereby were used to purchase common stock at the average market price during the period. Under the if-converted method, the preferred dividends applicable to convertible preferred stock are added back to the numerator. The convertible preferred stock is assumed to have been converted at the beginning of the period or at time of issuance, if later, and the resulting common shares are included in the denominator. We calculate basic earnings per share by dividing net income attributable to common stockholders (the “numerator”) by the weighted average number of common shares outstanding (the “denominator”) during the reporting period. Diluted earnings per share is calculated similarly but reflects the potential impact of outstanding options, warrants and other commitments to issue common stock, including shares issuable upon the conversion of convertible preferred stock outstanding, except where the impact would be anti-dilutive. The following table sets forth the computation of basic and diluted earnings per share: SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE 2024 2023 Three Months Ended March 31, 2024 2023 Numerator for basic earnings per share: Net Loss Attributable to Selectis Health, Inc. $ (1,034,720 ) $ 4,025,176 Series D Preferred Dividends (7,500 ) (7,500 ) Net Income (Loss) Attributable to Common Stockholders – Basic $ (1,042,220 ) $ 4,017,676 Numerator for diluted earnings per share: Net Income (Loss) Attributable to Common Stockholders $ (1,034,720 ) $ 4,025,176 Series D Preferred Dividends (7,500 ) (7,500 ) Net Income (Loss) Attributable to Common Stockholders – Diluted $ (1,042,220 ) $ 4,017,676 Denominator for basic earnings per share: Weighted Average Common Shares Outstanding 3,067,059 3,054,587 Denominator for diluted earnings per share: Weighted Average Common Shares Outstanding - Basic 3,067,059 3,054,587 Weighted Average Common Shares Outstanding - Diluted 3,067,059 3,054,587 Net Income (Loss) per Share Attributable to Common Stockholders: Basic $ (0.34 ) $ 1.32 Diluted $ (0.34 ) $ 1.32
Fair Value Measurements	Fair Value Measurements The Company utilizes the methods of fair value measurement as described in ASC 820 to value its financial assets and liabilities. As defined in ASC 820, fair value is based on the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. In order to increase consistency and comparability in fair value measurements, ASC 820 establishes a fair value hierarchy that prioritizes observable and unobservable inputs used to measure fair value into three broad levels, which are described below: Level 1 – Quoted market prices in active markets for identical assets or liabilities at the measurement date. Level 2 – Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data. Level 3 – Inputs reflecting management’s best estimates and assumptions of what market participants would use in pricing assets or liabilities at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company has no financial assets or financial liabilities that are required to be measured at fair value on a recurring basis as of March 31, 2024 and December 31, 2023. The carrying values of cash and cash equivalents, accounts payable, accrued liabilities and other short-term debt, approximate their fair value because of the short-term nature of these financial instruments. The carrying value of long-term debt approximates fair value since the related rates of interest approximate current market rates. Upon acquisition of real estate properties, the Company determines the total purchase price of each property and allocates this price based on the fair value of the tangible assets and intangible assets, if any, acquired and any liabilities assumed based on Level 3 inputs. These Level 3 inputs can include comparable sales values, discount rates, and capitalization rates from a third-party appraisal or other market sources.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE	The following table sets forth the computation of basic and diluted earnings per share: SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE 2024 2023 Three Months Ended March 31, 2024 2023 Numerator for basic earnings per share: Net Loss Attributable to Selectis Health, Inc. $ (1,034,720 ) $ 4,025,176 Series D Preferred Dividends (7,500 ) (7,500 ) Net Income (Loss) Attributable to Common Stockholders – Basic $ (1,042,220 ) $ 4,017,676 Numerator for diluted earnings per share: Net Income (Loss) Attributable to Common Stockholders $ (1,034,720 ) $ 4,025,176 Series D Preferred Dividends (7,500 ) (7,500 ) Net Income (Loss) Attributable to Common Stockholders – Diluted $ (1,042,220 ) $ 4,017,676 Denominator for basic earnings per share: Weighted Average Common Shares Outstanding 3,067,059 3,054,587 Denominator for diluted earnings per share: Weighted Average Common Shares Outstanding - Basic 3,067,059 3,054,587 Weighted Average Common Shares Outstanding - Diluted 3,067,059 3,054,587 Net Income (Loss) per Share Attributable to Common Stockholders: Basic $ (0.34 ) $ 1.32 Diluted $ (0.34 ) $ 1.32

PROPERTY AND EQUIPMENT, NET (Ta

PROPERTY AND EQUIPMENT, NET (Tables)	3 Months Ended
	Mar. 31, 2024
Property, Plant and Equipment [Abstract]
SCHEDULE OF PROPERTY PLANT AND EQUIPMENT	The gross carrying amount and accumulated depreciation of the Company’s property and equipment as of March 31, 2024, and December 31, 2023, are as follows: SCHEDULE OF PROPERTY PLANT AND EQUIPMENT March 31, 2024 December 31, 2023 Land $ 1,778,250 $ 1,778,250 Land Improvements 496,597 329,055 Buildings and Improvements 44,498,114 44,665,656 Furniture, Fixtures and Equipment 2,599,835 2,483,207 Property and Equipment, gross 49,372,796 49,256,168 Less: Accumulated Depreciation (14,302,048 ) (13,878,450 ) Less: Impairment (1,560,000 ) (1,560,000 ) Property and Equipment, net $ 33,510,748 $ 33,817,718 For the Three Months Ended March 31, 2024 2023 Depreciation Expense (excluding Intangible Assets) $ 423,599 $ 438,730

DEBT AND DEBT - RELATED PARTI_2

DEBT AND DEBT - RELATED PARTIES (Tables)	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
SCHEDULE OF DEBT AND DEBT - RELATED PARTIES	The following is a summary of the Company’s debt outstanding as of March 31, 2024, and December 31 2023: SCHEDULE OF DEBT AND DEBT - RELATED PARTIES March 31, 2024 December 31, 2023 Senior Secured Promissory Notes $ 1,025,000 $ 1,025,000 Senior Secured Promissory Notes - Related Parties 750,000 750,000 Fixed-Rate Mortgage Loans 29,328,787 29,570,185 Variable-Rate Mortgage Loans 4,637,955 4,675,585 Other Debt, Subordinated Secured 741,000 741,000 Other Debt, Subordinated Secured - Related Parties 150,000 150,000 Other Debt, Subordinated Secured - Seller Financing 7,957 15,105 Financed Insurance Premiums 756,453 875,027 Debt and Debt – Related Parties, Gross 37,397,152 37,801,902 Unamortized Discount and Debt Issuance Costs (475,480 ) (555,367 ) Debt and Debt – Related Parties, Net of Discount $ 36,921,672 $ 37,246,535 As presented in the Consolidated Balance Sheets: Current Maturities of Long-Term Debt, Net $ 10,926,610 $ 11,170,100 Short term debt – Related Parties, Net 900,000 900,000 Long-Term Debt, Net 25,095,062 25,176,435
SCHEDULE OF MORTGAGE LOAN DEBT	SCHEDULE OF MORTGAGE LOAN DEBT Number of Total Face Total Principal Outstanding as of State Properties Amount March 31, 2024 December 31, 2023 Arkansas (1) 1 $ 5,000,000 $ 3,709,826 $ 3,739,786 Georgia (2) 5 $ 17,765,992 $ 15,325,521 $ 15,457,026 Ohio 1 $ 3,000,000 $ 2,543,200 $ 2,563,000 Oklahoma (3) 6 $ 13,181,325 $ 12,388,196 $ 12,485,958 13 $ 38,947,317 $ 33,966,743 $ 34,245,770 (1) The mortgage loan collateralized by this property is 80 0.25 14,350 170,981 (2) The Company refinanced two of its mortgages that would have matured in June and October of 2021 amounting to $ 2,961,167 3,289,595 (3) The Company refinanced all three mortgages in July 2021, that would have matured in June and July of 2021 amounting to $ 2,065,969 750,000 500,000 June 2027 35 2.38
SCHEDULE OF OTHER DEBT	SCHEDULE OF OTHER DEBT Total Principal Property Face Amount March 31, 2024 December 31, 2023 Stated Interest Rate Maturity Date Goodwill Nursing Home $ 2,030,000 $ 741,000 $ 741,000 13% Fixed 30-Nov-25 Goodwill Nursing Home – Related Party 150,000 150,000 150,000 13% Fixed 30-Nov-25 Higher Call Nursing Center (1) 150,000 7,957 15,105 8% Fixed 30-Nov-25 $ 2,330,000 $ 898,957 $ 906,105 (1) In connection with the acquisition of Higher Call, the Company executed a promissory note in favor of the Seller, Higher Call Nursing Center, Inc., in the principal amount of $ 150,000
SCHEDULE OF UNSECURED NOTES AND NOTES SECURED BY ALL ASSETS	The Company’s corporate debt as of March 31, 2024, and December 31, 2023 includes unsecured notes and notes secured by all assets of the Company not serving as collateral for other notes. SCHEDULE OF UNSECURED NOTES AND NOTES SECURED BY ALL ASSETS Total Principal Series Face Amount March 31, 2024 December 31, 2023 Stated Interest Rate Maturity Date 11% Senior Secured Promissory Notes $ 1,255,000 $ 1,025,000 $ 1,025,000 10% Fixed 31-Dec-24 11% Senior Secured Promissory Notes – Related Party $ 750,000 750,000 750,000 10% Fixed 31-Dec-24 $ 2,005,000 $ 1,775,000 $ 1,775,000

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
SCHEDULE OF COMMON STOCK WARRANTS ACTIVITY	SCHEDULE OF COMMON STOCK WARRANTS ACTIVITY March 31, 2024 Number of Weighted Average Warrants Exercise Price Beginning Balance 177,500 $ 5.00 Exercised - - Expired - - Ending Balance 177,500 $ 5.00

FACILITY LEASES (Tables)

FACILITY LEASES (Tables)	3 Months Ended
	Mar. 31, 2024
Facility Leases
SCHEDULE OF LEASING ARRANGEMENTS	The following table summarizes leasing arrangements related to the Company’s healthcare facilities at March 31, 2024: SCHEDULE OF LEASING ARRANGEMENTS Monthly Lease Facility Income (1) Lease Expiration Renewal Option if any Goodwill Hunting LLC (1) $ 53,675 February 1, 2027 Term may be extended for one additional five-year term (1) The lease became effective on February 1, 2017, and the facility began generating rental revenue thereafter.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash used in operating activities	$ 249,495	$ (66,995)
Working capital deficit	$ 13,900,000

SCHEDULE OF BASIC AND DILUTED E

SCHEDULE OF BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net Income (Loss) per Share Attributable to Common Stockholders:
Net Loss Attributable to Selectis Health, Inc.	$ (1,034,720)	$ 4,025,176
Series D Preferred Dividends	(7,500)	(7,500)
Net (Loss) Income Attributable to Common Stockholders	(1,042,220)	4,017,676
Numerator for diluted earnings per share:
Net Income (Loss) Attributable to Common Stockholders	(1,034,720)	4,025,176
Series D Preferred Dividends	(7,500)	(7,500)
Net Income (Loss) Attributable to Common Stockholders – Diluted	$ (1,042,220)	$ 4,017,676
Denominator for basic earnings per share:
Weighted Average Common Shares Outstanding - Basic	3,067,059	3,054,587
Denominator for diluted earnings per share:
Weighted Average Common Shares Outstanding - Diluted	3,067,059	3,054,587
Basic	$ (0.34)	$ 1.32
Diluted	$ (0.34)	$ 1.32

SCHEDULE OF PROPERTY PLANT AND

SCHEDULE OF PROPERTY PLANT AND EQUIPMENT (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 49,372,796		$ 49,256,168
Less: Accumulated Depreciation	(14,302,048)		(13,878,450)
Less: Impairment	(1,560,000)		(1,560,000)
Property and Equipment, net	33,510,748		33,817,718
Depreciation Expense (excluding Intangible Assets)	423,599	$ 438,730
Land [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	1,778,250		1,778,250
Land Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	496,597		329,055
Building Improvements [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	44,498,114		44,665,656
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and Equipment, gross	$ 2,599,835		$ 2,483,207

SCHEDULE OF DEBT AND DEBT - REL

SCHEDULE OF DEBT AND DEBT - RELATED PARTIES (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	$ 37,397,152	$ 37,801,902
Unamortized Discount and Debt Issuance Costs	(475,480)	(555,367)
Debt and Debt – Related Parties, Net of Discount	36,921,672	37,246,535
Current Maturities of Long-Term Debt, Net	10,926,610	11,170,100
Long-Term Debt, Net	25,095,062	25,176,435
Related Party [Member]
Debt Instrument [Line Items]
Short term debt – Related Parties, Net	900,000	900,000
Senior Secured Promissory Notes [Member]
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	1,025,000	1,025,000
Senior Secured Promissory Notes Related Parties [Member]
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	750,000	750,000
Fixed Rate Mortgage Loans [Member]
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	29,328,787	29,570,185
Variable Rate Mortgage Loans [Member]
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	4,637,955	4,675,585
Other Debt Subordinated Secured [Member]
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	741,000	741,000
Other Debt Subordinated Secured Related Parties [Member]
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	150,000	150,000
Other Debt Subordinated Secured Seller Financing [Member]
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	7,957	15,105
Financed Insurance Premiums [Member]
Debt Instrument [Line Items]
Debt and Debt – Related Parties, Gross	$ 756,453	$ 875,027

SCHEDULE OF MORTGAGE LOAN DEBT

SCHEDULE OF MORTGAGE LOAN DEBT (Details) - Mortgage Loans [Member]		Mar. 31, 2024 USD ($) Integer	Dec. 31, 2023 USD ($)
Short-Term Debt [Line Items]
Number of Properties | Integer		13
Face Amount		$ 38,947,317
Total Principal Outstanding		$ 33,966,743	$ 34,245,770
ARKANSAS
Short-Term Debt [Line Items]
Number of Properties | Integer	[1]	1
Face Amount	[1]	$ 5,000,000
Total Principal Outstanding	[1]	$ 3,709,826	3,739,786
GEORGIA
Short-Term Debt [Line Items]
Number of Properties | Integer	[2]	5
Face Amount	[2]	$ 17,765,992
Total Principal Outstanding	[2]	$ 15,325,521	15,457,026
OHIO
Short-Term Debt [Line Items]
Number of Properties | Integer		1
Face Amount		$ 3,000,000
Total Principal Outstanding		$ 2,543,200	2,563,000
OKLAHOMA
Short-Term Debt [Line Items]
Number of Properties | Integer	[3]	6
Face Amount	[3]	$ 13,181,325
Total Principal Outstanding	[3]	$ 12,388,196	$ 12,485,958
[1]The mortgage loan collateralized by this property is 80 0.25 14,350 170,981 2,961,167 3,289,595 2,065,969 750,000 500,000 June 2027 35 2.38

SCHEDULE OF MORTGAGE LOAN DEB_2

SCHEDULE OF MORTGAGE LOAN DEBT (Details) (Parenthetical) - USD ($)	1 Months Ended			3 Months Ended		12 Months Ended
	Oct. 31, 2021	Jul. 31, 2021	Jun. 30, 2021	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Short-Term Debt [Line Items]
Debt instrument term				14 years 1 month 13 days	12 years 9 months 14 days
First Mortgage Loan [Member]
Short-Term Debt [Line Items]
Mortgage amount		$ 2,065,969	$ 2,961,167
Maturity date		June 2027
Debt instrument term		35 years
Interest rate		2.38%
Second Mortgage [Member]
Short-Term Debt [Line Items]
Mortgage amount	$ 3,289,595	$ 750,000
Maturity date		June 2027
Debt instrument term		35 years
Interest rate		2.38%
Third Mortgage Loan [Member]
Short-Term Debt [Line Items]
Mortgage amount		$ 500,000
Maturity date		June 2027
Debt instrument term		35 years
Interest rate		2.38%
ARGENTINA
Short-Term Debt [Line Items]
USDA guaranteed rate						80%
ARGENTINA | Mortgage Loans [Member]
Short-Term Debt [Line Items]
Annual renewal fee payable percentage						0.25%
Repayment of loan				$ 14,350		$ 170,981

SCHEDULE OF OTHER DEBT (Details

SCHEDULE OF OTHER DEBT (Details) - Other Debt [Member] - USD ($)		3 Months Ended
		Mar. 31, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Face Amount		$ 2,330,000
Total, Principal Outstanding		898,957	$ 906,105
Goodwill Nursing Home [Member]
Short-Term Debt [Line Items]
Face Amount		2,030,000
Total, Principal Outstanding		$ 741,000	741,000
Stated Interest Rate		13% Fixed
Maturity Date		Nov. 30, 2025
Goodwill Nursing Home - Related Party [Member]
Short-Term Debt [Line Items]
Face Amount		$ 150,000
Total, Principal Outstanding		$ 150,000	150,000
Stated Interest Rate		13% Fixed
Maturity Date		Nov. 30, 2025
Higher Call Nursing Center [Member]
Short-Term Debt [Line Items]
Face Amount	[1]	$ 150,000
Total, Principal Outstanding	[1]	$ 7,957	$ 15,105
Stated Interest Rate	[1]	8% Fixed
Maturity Date	[1]	Nov. 30, 2025
[1]In connection with the acquisition of Higher Call, the Company executed a promissory note in favor of the Seller, Higher Call Nursing Center, Inc., in the principal amount of $ 150,000

SCHEDULE OF OTHER DEBT (Detai_2

SCHEDULE OF OTHER DEBT (Details) (Parenthetical)	Mar. 31, 2024 USD ($)
Higher Call Nursing Center [Member]
Debt instrument, face amount	$ 150,000

SCHEDULE OF UNSECURED NOTES AND

SCHEDULE OF UNSECURED NOTES AND NOTES SECURED BY ALL ASSETS (Details) - Unsecured Notes [Member] - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Short-Term Debt [Line Items]
Face Amount	$ 2,005,000
Total Principal Outstanding	1,775,000	$ 1,775,000
11% Senior Secured Promissory Note [Member]
Short-Term Debt [Line Items]
Face Amount	1,255,000
Total Principal Outstanding	$ 1,025,000	1,025,000
Stated Interest Rate	10% Fixed
Maturity Date	Dec. 31, 2024
11% Senior Secured Promissory Note [Member] | Related Party [Member]
Short-Term Debt [Line Items]
Face Amount	$ 750,000
Total Principal Outstanding	$ 750,000	$ 750,000
Stated Interest Rate	10% Fixed
Maturity Date	Dec. 31, 2024

DEBT AND DEBT - RELATED PARTI_3

DEBT AND DEBT - RELATED PARTIES (Details Narrative) - USD ($)

1 Months Ended

3 Months Ended

12 Months Ended

Sep. 05, 2023

Jun. 27, 2023

Mar. 29, 2023

Sep. 30, 2020

Mar. 03, 2020

Feb. 05, 2020

Jan. 28, 2020

Dec. 31, 2017

Oct. 31, 2020

Oct. 31, 2018

Oct. 31, 2017

Mar. 31, 2024

Mar. 31, 2023

Dec. 31, 2023

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Jan. 17, 2020

Debt Instrument [Line Items]

Debt weighted average interest rate

4.15%

3.84%

Debt term

14 years 1 month 13 days

12 years 9 months 14 days

Amortization of debt discount

$ 84,352

Related Parties [Member]

Debt Instrument [Line Items]

Proceeds from the issuance of debt

$ 100,000

Notes and Warrants [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

10%

Maturity date

Oct. 31, 2021

Oct. 31, 2021

Warrants to purchase common stock

11,100

Proceeds from private offering

$ 1,160,000

Proceed from private offering, net

1,092,400

Placement agent fees

67,600

Fair value of warrants

21,453

Aggregate exchangeable units, value

$ 1,075,000

$ 1,075,000

Related Parties [Member] | Notes and Warrants [Member]

Debt Instrument [Line Items]

Aggregate exchangeable units, value

$ 875,000

Senior Secured Promissory Notes [Member]

Debt Instrument [Line Items]

Debt term

3 years

Debt instrument, interest rate

11%

11%

10%

Maturity date

Dec. 31, 2018

Senior secured promissory notes issued

$ 600,000

Debt outstanding amount

$ 1,200,000

$ 1,200,000

Warrants description

For every $10.00 in principal amount of note, investors got one warrant exercisable for one year to purchase an additional share of common stock at an exercise price of $7.50 per share.

one Warrant for each $10.00 in principal amount of Note exercisable for three years to purchase a share of Common Stock at an exercise price of $5.00 per share

Warrants exercise price

$ 7.50

$ 5

$ 7.50

Warrants to purchase common stock

120,000

120,000

Warrants unissued during the period

225,000

Repayment of secured debt

$ 125,000

Debt instrument maturity date, description

due in three years, (October 31, 2021)

Senior Secured Promissory Notes [Member] | Related Parties [Member]

Debt Instrument [Line Items]

Senior secured promissory notes issued

$ 425,000

10% Senior Secured Promissory Note [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

10%

10%

Maturity date

Dec. 31, 2018

Dec. 31, 2018

Notes exchanged

$ 100,000

Notes payable

$ 25,000

11% Senior Secured Notes [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

11%

11%

Senior secured promissory notes issued

$ 100,000

$ 60,000

Warrants exercise price

$ 5

$ 0.50

Warrants to purchase common stock

10,000

6,000

10,000

Warrant maturity date

Oct. 31, 2021

Oct. 31, 2021

11% Senior Secured Notes [Member] | Board of Director [Member]

Debt Instrument [Line Items]

Debt outstanding amount

$ 2,500,000

Senior Unsecured Notes [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

10%

10%

10%

Warrants description

For every $10.00 in principal amount of note, investors got one warrant exercisable for one year to purchase an additional share of common stock at an exercise price of $7.50 per share

Warrants exercise price

$ 5

$ 7.50

Warrants to purchase common stock

15,000

Repayment of secured debt

$ 150,000

Notes exchanged

$ 150,000

Warrant maturity date

Oct. 31, 2020

Senior unsecured notes sold

$ 300,000

Debt instrument maturity date, description

October 2020

11% Senior Secured Promissory Note [Member]

Debt Instrument [Line Items]

Warrants exercise price

$ 5

Warrants to purchase common stock

15,000

Warrant maturity date

Oct. 31, 2021

Senior secured notes [Member]

Debt Instrument [Line Items]

Maturity date

Dec. 31, 2024

Oct. 31, 2021

Oct. 31, 2021

Extended maturity date

Dec. 31, 2024

Warrants additional life term

1 year 8 months 1 day

1 year 8 months 1 day

Amortization of debt discount

$ 844,425

$ 844,425

Warrants exercise price

$ 5

Warrant maturity date

Dec. 31, 2024

Debt instrument, interest rate, effective percentage

11%

Warrant issued value

$ 10

Number of new warrants

177,500

Secured Promissory Notes [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

7.50%

6.75%

Maturity date

Jul. 05, 2023

Extended maturity date

Sep. 05, 2023

Secured promissory note

$ 501,006

Minimum [Member] | Senior secured notes [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

10%

10%

Maximum [Member] | Senior secured notes [Member]

Debt Instrument [Line Items]

Debt instrument, interest rate

11%

11%

SCHEDULE OF COMMON STOCK WARRAN

SCHEDULE OF COMMON STOCK WARRANTS ACTIVITY (Details) - Warrant [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of Warrants, Beginning Balance | shares	177,500
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 5
Number of Warrants, Exercised | shares
Weighted Average Exercise Price, Exercised | $ / shares
Number of Warrants, Expired | shares
Weighted Average Exercise Price, Expired | $ / shares
Number of Warrants, Ending Balance | shares	177,500
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 5

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Preferred stock, shares authorized	10,000,000
Common stock, shares authorized	800,000,000	800,000,000
Common stock, par value	$ 0.05	$ 0.05
Common stock, shares outstanding	3,067,059	3,067,059
Warrant [Member]
Class of Stock [Line Items]
Warrants to purchase common stock	177,500	177,500
Weighted average exercise price	$ 5	$ 5
Common stock warrants term	9 months	1 year
Aggregate intrinsic value of common stock warrants outstanding	$ 0	$ 0
Board of Directors Chairman [Member]
Class of Stock [Line Items]
Common stock, shares authorized	50,000,000
Common stock, par value	$ 0.05
Common stock, shares outstanding	3,067,059	3,067,059
Series A Convertible Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	2,000,000
Preferred stock, par value	$ 2
Liquidation preference value	$ 2
Preferred stock, shares outstanding	200,500	200,500
Series D Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares authorized	1,000,000
Preferred stock, par value	$ 1
Preferred stock, shares outstanding	375,000	375,000
Preferred stock, dividend rate, percentage	8%
Preferred stock, call or exercise features	Shares of the Series D preferred stock are redeemable at the Company’s option. At the option of the holder, shares of the Series D preferred stock plus any declared and unpaid dividends are convertible to shares of the Company’s common stock at a conversion rate of $1.00 per share
Dividends payable	$ 7,500	$ 7,500

SCHEDULE OF LEASING ARRANGEMENT

SCHEDULE OF LEASING ARRANGEMENTS (Details) - Goodwill Hunting LLC [Member]	3 Months Ended
	Mar. 31, 2024 USD ($)	[1]
Defined Benefit Plan Disclosure [Line Items]
Monthly lease income	$ 53,675
Lease expiration date	Feb. 01, 2027
Lease renewal option	Term may be extended for one additional five-year term
[1]The lease became effective on February 1, 2017, and the facility began generating rental revenue thereafter.

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - Subsequent Event [Member] - USD ($)	May 01, 2024	Apr. 12, 2024
Subsequent Event [Line Items]
Principal amount		$ 750,000
Fixed interest rate		8.50%
Maturity date		Apr. 12, 2025
Payments to purchase of real property	$ 6,750,000